Euro has completed its first stage. Three years after being launched, the European currency seems to leave behind a stormy start and its second stage is under way. National currencies of the member countries have been withdrawn and notes and Euro coins have come into circulation. Undoubtedly, the U.S dollar has found a tough rival which poses a serious challenge as the predominant worldwide currency. This issue of Economic Pulse briefly reviews the evolution of Euro since its birth, the dimensions of its market, and the consequences for financial markets. Find out how this process will affect Puerto Rico. It is time to demonstrate that the positive effects of this new giant far outweigh its potentially negative consequences.